Korea Cable TV Chung Buk System (66790) SWOT Analysis / TOWS Matrix / MBA Resources
Broadcasting & Cable TV
Strategy / MBA Resources
Introduction to SWOT Analysis
SWOT Analysis / TOWS Matrix for Korea Cable TV Chung Buk System (South Korea)
Based on various researches at Oak Spring University , Korea Cable TV Chung Buk System is operating in a macro-environment that has been destablized by – wage bills are increasing, geopolitical disruptions, digital marketing is dominated by two big players Facebook and Google, customer relationship management is fast transforming because of increasing concerns over data privacy, there is increasing trade war between United States & China, central banks are concerned over increasing inflation, supply chains are disrupted by pandemic ,
banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing household debt because of falling income levels, etc
Introduction to SWOT Analysis of Korea Cable TV Chung Buk System
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Korea Cable TV Chung Buk System can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Korea Cable TV Chung Buk System, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Korea Cable TV Chung Buk System operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Korea Cable TV Chung Buk System can be done for the following purposes –
1. Strategic planning of Korea Cable TV Chung Buk System
2. Improving business portfolio management of Korea Cable TV Chung Buk System
3. Assessing feasibility of the new initiative in South Korea
4. Making a Broadcasting & Cable TV sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Korea Cable TV Chung Buk System
Strengths of Korea Cable TV Chung Buk System | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Korea Cable TV Chung Buk System are -
Strong track record of project management in the Broadcasting & Cable TV industry
– Korea Cable TV Chung Buk System is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Training and development
– Korea Cable TV Chung Buk System has one of the best training and development program in Services industry. The effectiveness of the training programs can be measured in – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Ability to lead change in Broadcasting & Cable TV
– Korea Cable TV Chung Buk System is one of the leading players in the Broadcasting & Cable TV industry in South Korea. Over the years it has not only transformed the business landscape in the Broadcasting & Cable TV industry in South Korea but also across the existing markets. The ability to lead change has enabled Korea Cable TV Chung Buk System in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Learning organization
- Korea Cable TV Chung Buk System is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Korea Cable TV Chung Buk System is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Korea Cable TV Chung Buk System emphasize – knowledge, initiative, and innovation.
Innovation driven organization
– Korea Cable TV Chung Buk System is one of the most innovative firm in Broadcasting & Cable TV sector.
Effective Research and Development (R&D)
– Korea Cable TV Chung Buk System has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in – Korea Cable TV Chung Buk System staying ahead in the Broadcasting & Cable TV industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Digital Transformation in Broadcasting & Cable TV industry
- digital transformation varies from industry to industry. For Korea Cable TV Chung Buk System digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Korea Cable TV Chung Buk System has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Analytics focus
– Korea Cable TV Chung Buk System is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the Broadcasting & Cable TV industry. The technology infrastructure of South Korea is also helping it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Sustainable margins compare to other players in Broadcasting & Cable TV industry
– Korea Cable TV Chung Buk System has clearly differentiated products in the market place. This has enabled Korea Cable TV Chung Buk System to fetch slight price premium compare to the competitors in the Broadcasting & Cable TV industry. The sustainable margins have also helped Korea Cable TV Chung Buk System to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Korea Cable TV Chung Buk System has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Broadcasting & Cable TV industry. Secondly the value chain collaborators of Korea Cable TV Chung Buk System have helped the firm to develop new products and bring them quickly to the marketplace.
High brand equity
– Korea Cable TV Chung Buk System has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Korea Cable TV Chung Buk System to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
High switching costs
– The high switching costs that Korea Cable TV Chung Buk System has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Weaknesses of Korea Cable TV Chung Buk System | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Korea Cable TV Chung Buk System are -
Low market penetration in new markets
– Outside its home market of South Korea, Korea Cable TV Chung Buk System needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Slow decision making process
– As mentioned earlier in the report, Korea Cable TV Chung Buk System has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Broadcasting & Cable TV industry over the last five years. Korea Cable TV Chung Buk System even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Need for greater diversity
– Korea Cable TV Chung Buk System has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Increasing silos among functional specialists
– The organizational structure of Korea Cable TV Chung Buk System is dominated by functional specialists. It is not different from other players in the Broadcasting & Cable TV industry, but Korea Cable TV Chung Buk System needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Korea Cable TV Chung Buk System to focus more on services in the Broadcasting & Cable TV industry rather than just following the product oriented approach.
No frontier risks strategy
– From the 10K / annual statement of Korea Cable TV Chung Buk System, it seems that company is thinking out the frontier risks that can impact Broadcasting & Cable TV industry. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
High operating costs
– Compare to the competitors, Korea Cable TV Chung Buk System has high operating costs in the Broadcasting & Cable TV industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Korea Cable TV Chung Buk System lucrative customers.
High bargaining power of channel partners in Broadcasting & Cable TV industry
– because of the regulatory requirements in South Korea, Korea Cable TV Chung Buk System is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the Broadcasting & Cable TV industry.
Compensation and incentives
– The revenue per employee of Korea Cable TV Chung Buk System is just above the Broadcasting & Cable TV industry average. It needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Ability to respond to the competition
– As the decision making is very deliberative at Korea Cable TV Chung Buk System, in the dynamic environment of Broadcasting & Cable TV industry it has struggled to respond to the nimble upstart competition. Korea Cable TV Chung Buk System has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Korea Cable TV Chung Buk System supply chain. Even after few cautionary changes, Korea Cable TV Chung Buk System is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Korea Cable TV Chung Buk System vulnerable to further global disruptions in South East Asia.
Aligning sales with marketing
– From the outside it seems that Korea Cable TV Chung Buk System needs to have more collaboration between its sales team and marketing team. Sales professionals in the Broadcasting & Cable TV industry have deep experience in developing customer relationships. Marketing department at Korea Cable TV Chung Buk System can leverage the sales team experience to cultivate customer relationships as Korea Cable TV Chung Buk System is planning to shift buying processes online.
Korea Cable TV Chung Buk System Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities of Korea Cable TV Chung Buk System are -
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Broadcasting & Cable TV industry, but it has also influenced the consumer preferences. Korea Cable TV Chung Buk System can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Developing new processes and practices
– Korea Cable TV Chung Buk System can develop new processes and procedures in Broadcasting & Cable TV industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Building a culture of innovation
– managers at Korea Cable TV Chung Buk System can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Broadcasting & Cable TV industry.
Manufacturing automation
– Korea Cable TV Chung Buk System can use the latest technology developments to improve its manufacturing and designing process in Broadcasting & Cable TV sector. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Korea Cable TV Chung Buk System is facing challenges because of the dominance of functional experts in the organization. Korea Cable TV Chung Buk System can utilize new technology in the field of Broadcasting & Cable TV industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Korea Cable TV Chung Buk System can use these opportunities to build new business models that can help the communities that Korea Cable TV Chung Buk System operates in. Secondly it can use opportunities from government spending in Broadcasting & Cable TV sector.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Korea Cable TV Chung Buk System in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Broadcasting & Cable TV industry, and it will provide faster access to the consumers.
Loyalty marketing
– Korea Cable TV Chung Buk System has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Creating value in data economy
– The success of analytics program of Korea Cable TV Chung Buk System has opened avenues for new revenue streams for the organization in Broadcasting & Cable TV industry. This can help Korea Cable TV Chung Buk System to build a more holistic ecosystem for Korea Cable TV Chung Buk System products in the Broadcasting & Cable TV industry by providing – data insight services, data privacy related products, data based consulting services, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Korea Cable TV Chung Buk System to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Korea Cable TV Chung Buk System to hire the very best people irrespective of their geographical location.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Korea Cable TV Chung Buk System can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Better consumer reach
– The expansion of the 5G network will help Korea Cable TV Chung Buk System to increase its market reach. Korea Cable TV Chung Buk System will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Use of Bitcoin and other crypto currencies for transactions in Broadcasting & Cable TV industry
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Korea Cable TV Chung Buk System in the Broadcasting & Cable TV industry. Now Korea Cable TV Chung Buk System can target international markets with far fewer capital restrictions requirements than the existing system.
Threats Korea Cable TV Chung Buk System External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats of Korea Cable TV Chung Buk System are -
Technology acceleration in Forth Industrial Revolution
– Korea Cable TV Chung Buk System has witnessed rapid integration of technology during Covid-19 in the Broadcasting & Cable TV industry. As one of the leading players in the industry, Korea Cable TV Chung Buk System needs to keep up with the evolution of technology in the Broadcasting & Cable TV sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, Korea Cable TV Chung Buk System may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Broadcasting & Cable TV sector.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Korea Cable TV Chung Buk System.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Korea Cable TV Chung Buk System business can come under increasing regulations regarding data privacy, data security, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Korea Cable TV Chung Buk System can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate Korea Cable TV Chung Buk System prominent markets.
Stagnating economy with rate increase
– Korea Cable TV Chung Buk System can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the Broadcasting & Cable TV industry.
Easy access to finance
– Easy access to finance in Broadcasting & Cable TV industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Korea Cable TV Chung Buk System can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Korea Cable TV Chung Buk System will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Regulatory challenges
– Korea Cable TV Chung Buk System needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Broadcasting & Cable TV industry regulations.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Korea Cable TV Chung Buk System needs to understand the core reasons impacting the Broadcasting & Cable TV industry. This will help it in building a better workplace.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Shortening product life cycle
– it is one of the major threat that Korea Cable TV Chung Buk System is facing in Broadcasting & Cable TV sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of Korea Cable TV Chung Buk System Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Korea Cable TV Chung Buk System needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of Korea Cable TV Chung Buk System is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of Korea Cable TV Chung Buk System is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Korea Cable TV Chung Buk System to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Korea Cable TV Chung Buk System needs to make to build a sustainable competitive advantage.